Stellantis will be the new name of the fourth biggest car company in the world, after conglomerates FCA and PSA merge to form one giant car manufacturing group.
Fiat-Chrysler Automobiles (FCA) is the umbrella group name for Fiat, Chrysler, Jeep, Ram, Dodge, Alfa Romeo, Lancia, and Maserati. Peugeot Group (PSA) is the owner of Peugeot, Citroen, DS, Opel, and Vauxhall.
The US$50 billion (AU$71.5B) merger of the two groups will create the fourth largest car company in the world.
The new name Stellantis will only be used at a management level, referring to the umbrella corporation of the many car brands brought together in the FCA/PSA merger.
In a joint media release, it's said the new corporate name was developed from the Latin verb 'stello' which means 'to brighten with stars'.
As reported by CarAdvice in June 2020, the merger deal could be under threat by the European Union's executive arm, known as the European Commission (EC).
The EC is investigating whether the merger would reduce the market competition for the popular small commercial vans segment, and could block the deal if it is found to be in breach of antitrust regulations.
A decision will be handed down by the EC in October 2020.
In July 2020, FCA was granted a controversial €6.3 billion (AU$10.3B) loan backed by the Italian government. It's estimated the organisation has secured €17.55 billion (AU$28.6B) in credit from various sources.